Homeless Executive Lives Off of Rewards Points CNBC.com | March 12, 2010 | 10:55 AM EST Hereâs proof that all those frequent-flier miles and rewards points youâve racked up are good for more than a subscription to Golf Digest. Jim Kennedy, a 46-year-old executive in Southern California, went from six figures to homeless in less than two years after he lost his job as a corporate-development manager, had to file for bankruptcy and then lost his Newport Beach condo to foreclosure, the OC Register reports. Now, heâs using the more than one million frequent-flier miles and rewards points he accrued in his career to survive and help stretch the few dollars he has. Heâs not your typical homeless guy: He drives around in a leased BMW, but hops from hotel to hotel, including a stay at the Motel 6, and tries to keep his food budget to $5 a day. He looks for places with free Internet to to facilitate his job search. Heâs found that mixing cash and points gives you the best value. This week, heâs at a Holiday Inn in San Clemente Calif., paying $25 a night, after cashing in 5,000 United Airlines [ UAUA 19.5599 +0.3899 (+2.03%) ] miles. Bonus: Free breakfast! You can cash in miles for more than hotels and magazines â you can use them to buy food (be it at a restaurant or Kmart), drugstore items, clothing, gasoline â even a haircut! Kennedy estimates his million miles will stretch about five months, according to other reports. Call it the Platinum Homeless-Rewards Program: Never leave home without it!